Dan Chapman

Branch Manager, Mortgage Loan Originator

Can I Refinance 100% of my Home’s Value with a VA Loan?

Most veterans know they can purchase a home with ZERO down payment with a VA loan. However, when refinancing with a VA loan, can one pull out 100% of the home’s value?

The short answer is yes, however, it does depend on the lender. Many lenders have “overlays” capping the refinance at a maximum LTV (loan-to-value) of 90% or less on a VA refinance. HomeBridge is not one of these lenders. We will refinance up to 100% of your home’s value. For example, if your home is worth $200,000, we will VA refinance your home for $200,000. If you only owe $150,000, you can pull out $50,000 of equity to use for whatever you wish. If a person is paying high interest on credit cards and/or consumer loans, then a refinance could significantly help. Mortgage interest is also a tax write-off, which also can help.

There is the matter of the VA funding fee. Although the funding fee can be added into the loan, it can be significant (between 2.15 and 3.3%). For more info, read our VA Funding Fee Blog Post.

The Chapman Lending Team at HomeBridge Financial is honored to help many veterans utilize their VA home loan benefit each and every year. We ARE NOT a call center. Our goal is to provide the best customer service in the industry along with the most competitive rates and fees.

About the author: Dan Chapman is the branch manager at HomeBridge Financial Services in North County San Diego, CA. HomeBridge performs VA loans in 46 states. Dan is a Naval Academy graduate, served as a Captain (O-3) in the Marine Corps, and is a Operation Iraqi Freedom veteran. He has been focused on helping active duty military and veterans attain the dream of home ownership since 2007. He is actively involved in several local veteran causes and performs VA loan seminars throughout greater San Diego on a monthly basis. For a free consultation, please contact us anytime.